Hi Ski, the way I read it is that Gangfen got their shareholders approval to bid up to $96 usd for the 13.8%, NMT expected a bid of $96 usd which was $120m aus, put out Ann to that effect because Gangfen had informed the market so forcing NMT to Ann early on a deal perhaps verbally agreed but not done.
Gangfen did not bid or tried to bid less than $96 usd which NMT would not accept.
Just my thoughts based on what we know, had Gangfen bid the $96m usd they would have the 13.8%, but now it's just gone up in value as we are closer to producing 400k ton all at 6% grade the price of which has just jumped 12% and NMT have decided quite rightly to hold.
Gangfen I think playing games which didn't work out as they expected perhaps it's they who have been pinging the stock who knows, but I for one am glad we didn't sell, it's a great income generator, the value of the ore has jumped 12%, and pridictions are it will go higher over the next three years.
Gangfen must be kicking themselves for trying to get this cheap, at 96m usd it was sold but not now, Loop.
NMT Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
